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960 E 10th Drive Mesa, AZ 85204

4 Beds 2 Baths 1,500 sqft Built 1972

$270,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $180.00
  • 3 Days on Market
  • MLS # : 6167738
  • Updated Date : 12/19/2020 at 15:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Opportunity to secure this comfortable home in the heart of Mesa, AZ! You'll love the old brick charm with new practical interior elements! The free flowing floor plan is perfect for entertaining! You're greeted by your formal living room adjacent to the well positioned kitchen and family room. Your galley kitchen features white shaker cabinets with neutral granite countertop and direct access to your spacious backyard. This home is complete with 4 full bedrooms & 2 bathrooms. One bedroom is removed from the other three offering complete privacy! This home is complete with a new paint job inside & out & a new arcadia sliding door! You'll find ample storage outside with the attached storage & detached storage. Come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Poinsettia

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Poinsettia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7861567

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Mesa High School High Regular 3,406 155 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$996
Property Tax -$140
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
$58

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$25,927

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,350

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4754$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 960 E 10th Drive Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 1050 S Stapley Drive #1 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 433 S Pioneer -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.93
    •  
  • 1559 E Flower Circle Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 536 E Harmony Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 1971
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Andrea D Garcia
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167738
Last Updated: 12/19/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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